To ask if your child has a debit card?

[OriginalGeordie]

DD1 aged 13 has asked us for a debit card as she says that she finds she goes through cash like water and if she had a debit card there would be less of that. I’m inclined to agree with her and think she’s being very sensible. It would also be a little easier as we can just set up a standing order to put her allowance in each month. Just to add that she does have a savings account but would want to keep the two separate.

Just wondering what the general consensus was among those of you who do this already? Any recommendations on accounts? I think we want to set up a junior current account as opposed to a pre-paid card. Thinking of getting a pre-paid card for my 10 yr old though. So AIBU to set this up, if so what are the pitfalls if any.

daffodillament probably copying me as I use that phrase a lot !

Aged 13 all ours got a Santander bank account and £20 pm.
At 16 they get £100 pm and we only cover school costs, phones and if they needed a 'best' outfit.

Debit cards for children are fine, but personally I feel it should be set as withdrawing cash only (I.e. Can't be used in shops) until the age of 15/16.

DD13 has the Lloyds u19 account with debit card. I was forever handing over cash when she went out but we have now agreed an amount that covers days out with friends and clothes. Means she has to budget and decide what she wants to spend the money on. It’s a free account unlike Go Henry and she has internet banking so we can keep an eye on balance etc easily. I pay her a weekly standing order so she does not spend the whole months worth in one shopping trip unless she saves it first! It has really made her think about the value of things

Yes when I started in year 7 at school I got a bank account with debit card set up and will do the same for my son once he is old enough to need an allowance (he's only 8!)

The go Henry looks good but they do have a charge per child and I don't really see how it's any different to a normal bank card with no charge?

We've bought DD (13) prepaid cards instead of giving her cash for her chores, so she can shop online. No debit card yet, but probably in a year or two.

I like the notifications with Go Henry and the fact that I can access the app so easily.
I can add money, change the rules and even turn the card off instantly.
Possibly yiu can do that with ordinary accounts too but I find it very easy to use

My 2 have a Santander 123 account. It’s great. Their pocket money goes straight in and grandparents can put money in on birthdays etc. They can’t go overdrawn at all, the card would be declined. They’ve both got the Santander app on their phones so can check balances and download statements etc. I’d definitely recommend it.

Fluffunicorns interesting point about transferring it weekly instead of monthly, hadn’t considered that. May look into doing it fortnightly.

Yes - my 10 year old has a nimbl card - I put her pocket money on it each month and you can send links to family for them to add things like b'day money etc. There's a facility to have a 'parental balance' where if you lend child money they can zap it you back. My daughter is learning some valuable money management skills from it I think.

I will probably switch to a free banking with debit card when she's old enough though.

You can get an account with debit card from age 11. Both my kids have one. No way would I pay a monthly fee to the likes of GoHenry when you can get it free with any bank

This.

Hoppinggreen no you don’t have that level of control with debit cards. That’s what has me pondering! To block them you have to ring the bank.

My two daughters both had natwest cards at eleven and the app. I can move money quickly and are great, they don't carry cash, have a set amount put on each month and topped up in emergencies or last minute trips out for tea with friends. They have learnt to budget too xx

Debit cards for children are fine, but personally I feel it should be set as withdrawing cash only (I.e. Can't be used in shops) until the age of 15/16

Why? Dd has one, she's 12. Much safer than cash.

Mine have Nationwide. There's a linked savings account with a pretty good interest rate, and it's also 0% for purchases abroad. You can keep it until you're 21 I think. They let you choose a cash card or debit card but mine have the debit card - they pay for all their own purchases in shops or online. You have to open it in branch for under-14s, but they were really great with mine, and my 14 year old has had excellent service over the phone too (he has ASD, and they've all been really kind and patient with him). I actually switched to them myself off the back of the service they gave him.

Also have goHenry for youngest (middle one just turned 11 so he had one until recently). It's pretty good but you need to watch for fees - along with the monthly cost you only get one free top up per month. They can put some of their money aside to save, and you can set limits on spending and get notifications when it's used. I would never pay for it if a free bank account was available - hence why I moved DS2 to a bank account after his birthday. Again though - she does all her own purchasing on it. I have their cards saved on my Amazon account so it's easy to select who's paying (that way everyone uses my Prime delivery).

original
Yes I can switch it off and back on again with one swipe
Family can also add to it
Dd sometimes gets money from her Grandma with a “great school report” message or similar
I know we do pay for it but I really like it

Ds has GoHenry. There is a fee but the advantage is I can both add and take away money, so if he’s rude etc I can remove pocket money. It also means I can set up regular chores and tasks and when he completes them it transfers the money over, and as pp say they can set up savings goals and access from a tablet to see how much they have

SafetyLightsAreForDudes thanks for the Amazon tip, didn’t occur to me to do this, I also have Prime.

My 14 year old had a go Henry for about 18 months however I got fed up of the fees and if the transfer day fell on a bank holiday they didn’t transfer the money until the next working day. It’s also pretty ‘uncool’ with teens. She has the Santander one now and the App to keep a check on her spending which I can also look at.

My dc both have gohenry cards. Yes there is a monthly fee however I love the flexibility of being able to control the limits and also seeing what they have spent and where. DS is 12 and has no interest in changing accounts yet.

My son had an Osper card for a while but has an account with Nationwide now, actually just with a cash card but he's 16 very soon and I suggested he gets an account with Starling or Monzo. You have to be 16 for those though so no good for the OP's dd.

Mine has a Nimbl card. Cheaper and better than go Henry.

Those of you with GoHenry, do you have to sign up for a set amount of time or can you cancel at any time? Thinking of getting one for DD2 until she turns 11 next year.

Ours all have Nationwide accounts - really pleased with them and it's specifically for teens.

DS1 used to have an account with Santander with a cash withdrawal card only from 13 as when I asked if it was possible to go overdrawn with the debit card, they said yes it could happen and that there would be bank charges! When I then said cash withdrawal only card, he turned to DS1 and said directly to him, 'if you want to change the type of card, you can come in at any time and change it at the counter'. I felt that at 13, that should be a joint decision as the money was coming from us. But then I had so many problems generally with Santander re accounts/mortgage and various other issues that I would never use them again.

Nationwide teen account, you can't go overdrawn but if it did happen, there are no charges.

Nimbl charges for cash withdrawals as well as having an annual fee